Web browser maker Opera on Monday smashed expectations for the fourth quarter and guided higher for the current quarter and full year ahead. OPRA stock rocketed higher on the news.
The Oslo, Norway-based company earned an adjusted 27 cents per U.S. share on sales of $96.3 million in the December quarter. Analysts polled by FactSet had expected Opera earnings of 17 cents a share on sales of $90.2 million. In the year-earlier period, Opera lost 92 cents a share on sales of $72.6 million.
For the current quarter, Opera forecast revenue of $83 million to $85 million, representing 17% year-over-year growth at the midpoint. Analysts had been looking for first-quarter sales of $81.5 million.
For full-year 2023, Opera predicted revenue of $370 million to $390 million. The midpoint of $380 million is just above Wall Street's target of $379.3 million. Also, it would represent 15% growth year over year.
OPRA Stock Pops After Report
On the stock market today, OPRA stock soared 22.2% to close at 8.93. It ended the regular session on Friday down a penny to 7.31.
Opera has 324 million users for its browsers and online gaming and news products.
"In a year with a great deal of geopolitical and macroeconomic uncertainty, Opera delivered 32% revenue growth for 2022," Co-Chief Executive Song Lin said in a news release.
OPRA stock has an IBD Relative Strength Rating of 97 out of 99. That means it has outperformed 97% of all stocks in terms of relative share price performance over the last 52 weeks.
However, OPRA stock has a so-so IBD Composite Rating of 72 out of 99, according to IBD Stock Checkup.
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